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The need of Composite AI in Security & surveillance is growing as organizations may increase situational awareness, strengthen threat detection capabilities, automate monitoring procedures, and allow more effective and proactive security actions by using composite AI in security and surveillance.

New York, July 31, 2023 (GLOBE NEWSWIRE) -- Reportlinker.com announces the release of the report "Global Composite AI Market Size, Share & Industry Trends Analysis Report By Technique, By Vertical, By Application, By Offering, By Regional Outlook and Forecast, 2023 - 2030" - https://www.reportlinker.com/p06481214/?utm_source=GNW Therefore, Security & Surveillance acquired $83.4 million revenue in the market in 2022. Composite artificial intelligence (AI) may significantly advance numerous elements of safety monitoring, danger identification, and response. The market is predicted to expand due to the increased requirement for data protection since many firms have recently experienced severe security breaches and data breaches.

The major strategies followed by the market participants are Partnerships as the key developmental strategy to keep pace with the changing demands of end users. For instance, In June, 2023, Google LLC signed a partnership with Sysdig to integrate its generative artificial intelligence (AI) features with Sysdigs cloud security platform. The partnership would provide the joint customers of the two companies with secure cloud-based automation solutions that would drive better productivity. Additionally, In June, 2023, Salesforce extended its partnership with Google Cloud to develop solutions for AI-powered customer experience solutions. The partnership would allow the two companies to provide their clients with personalized customer experience solutions.

Based on the Analysis presented in the KBV Cardinal matrix; Microsoft Corporation and Google LLC are the forerunners in the Market. In June, 2023, Microsoft Corporation extended its partnership with HCLTech, an Indian IT company, to provide generative AI-powered business transformation solutions to enterprises. The partnership would allow Microsoft to serve its customers in a better way by providing them with solutions for better decision-making through the use of AI-powered operational insights. Companies such as Intel Corporation, NVIDIA Corporation, SAP SE are some of the key innovators in the Market.

Market Growth Factors

Real-time decision-making via integration with edge computing and IoT

Edge computing adoption is being fueled by the ubiquity of Internet of Things (IoT) devices and the need for real-time decision-making. By processing and analyzing data locally, composite AI systems linked with edge devices may lower latency and enable quicker insights and answers. This integration makes the deployment of composite AI solutions in edge computing settings possible. Intelligent applications and 5G/6G Internet of Things (IoT) networks rely heavily on edge computing. The IoT ecosystem creates enormous, heterogeneous, extremely noisy, spatiotemporal-correlated, real-time data streams that need intelligent learning for effective data analysis and insight extraction. These devices include sensors, mobiles, and memory units.

AI applications are becoming more intricate to improve performance and accuracy

The complexity of AI applications is increasing, necessitating the fusion of many AI models and technologies. Organizations are now dealing with the fact that training a large neural network using ML only sometimes scales to address challenges of growing complexity. In conclusion, the increasing complexity of AI applications will support the rise of the market for extraordinary performance and accuracy.

Market Restraining Factors

Issues with data security and privacy

Due to a lack of confidence in AI technology or incomplete awareness of its potential and constraints, some businesses could hesitate to employ composite AI solutions. Implementation challenges may also arise from worries about data security, privacy, and possible biases in AI algorithms. Data leaks and illegal access to private information are the key privacy issues with AI. Thus, over the projection period, worries about data security and privacy may restrain the development of the market.

Offering Outlook

Based on offering, the market is segmented into hardware, software, and services. The software segment held the highest revenue share in the market in 2022. Composite AI software often provides a platform or framework that enables the smooth integration and orchestration of several AI models or algorithms. It allows users to make better judgments by using the many capabilities of these AI components to address complex problems. Organizations may create sophisticated AI applications that process and analyze various data kinds, comprehend complicated patterns, provide insights, anticipate outcomes, and carry out activities that call for a mix of AI approaches using composite AI software.

Software Outlook

Under software, the market is bifurcated into AI Development Platforms & Tools, ML Frameworks, AI Middleware, and other software. In 2022, the AI Development Platforms & Tools segment registered the largest revenue share in the market. Businesses and developers may now design and modify AI solutions more quickly and simply because of the emergence of low-cost and accessible AI tools and platforms like TensorFlow, PyTorch, and IBM Watson. AI systems may speed up software development procedures like code compilation and quality assurance, which can cut down on the time and expense involved in developing software.

Technique Outlook

Based on technique, the market is categorized into proactive mechanisms, data processing, pattern recognition, conditioned monitoring, data mining & machine learning, and others. In 2022, the data mining & machine learning segment projected a prominent revenue share in the market. Techniques for data mining and machine learning are essential for commercializing Composite AI solutions. Composite AI systems that combine data mining and machine learning methods allow the system to analyze enormous volumes of data, find patterns, anticipate the future, and improve decision-making. Using datas power allows composite AI systems to offer intelligent, adaptive, and context-aware capabilities across a range of domains and applications.

Application Outlook

On the basis of application, the market is divided into product design & development, quality control, predictive maintenance, security & surveillance, customer service, and others. In 2022, the predictive maintenance segment registered a significant revenue share in the market. In predictive maintenance, which seeks to anticipate equipment breakdowns or maintenance requirements, composite AI may be beneficial. It provides better asset management methods, data-driven decision-making, and accurate projections.

Vertical Outlook

Based on the vertical, the market is segmented into BFSI, retail & eCommerce, manufacturing, energy & utilities, transportation & logistics, healthcare & life sciences, media & entertainment, government & military, telecom, and others. The BFSI segment registered the maximum revenue share in the market in 2022. In the BFSI industry, composite AI solutions are used for various purposes, including compliance and regulatory reporting, risk assessment and management, customer service, credit scoring, and fraud detection and prevention.

Regional Outlook

Region wise, the market is analysed across North America, Europe, Asia Pacific and LAMEA. The North America region led the market with highest revenue share in 2022. North America is a global leader in implementing and expanding composite AI solutions. The existence of cutting-edge AI technology businesses, strong R&D skills, and a developed market ecosystem all play a role in the regions fast rise of composite AI solutions. Composite AI is being used by major sectors, including healthcare, retail, BFSI, and manufacturing, to promote innovation, improve consumer experiences, and increase operational effectiveness.

The market research report covers the analysis of key stake holders of the market. Key companies profiled in the report include IBM Corporation, SAS Institute, Inc., Microsoft Corporation, Google LLC (Alphabet Inc.), Salesforce, Inc., Amazon Web Services, Inc. (Amazon.com, Inc.), NVIDIA Corporation, Intel Corporation, SAP SE, and Squirro AG

Recent Strategies Deployed in Composite AI Market

Partnerships, Collaborations, and Agreements:

Jun-2023: Microsoft Corporation extended its partnership with HCLTech, an Indian IT company, to provide generative AI-powered business transformation solutions to enterprises. The partnership would allow Microsoft to serve its customers in a better way by providing them with solutions for better decision-making through the use of AI-powered operational insights.

Jun-2023: Google LLC signed a partnership with Sysdig, a cloud-based security solutions provider, to integrate its generative artificial intelligence (AI) features with Sysdigs cloud security platform. The partnership would provide the joint customers of the two companies with secure cloud-based automation solutions that would drive better productivity.

Jun-2023: Google LLC partnered with Twilio Inc., a customer engagement platform, to integrate Twilios customer engagement offerings with Google Clouds generative artificial intelligence (AI). The partnership would allow Google to provide its clients with AI-powered customer engagement tools that would drive their business growth.

Jun-2023: Salesforce extended its partnership with Google Cloud, a cloud platform offered by Google, to develop solutions for AI-powered customer experience solutions. The partnership would allow the two companies to provide their clients with personalized customer experience solutions.

Jun-2023: Amazon Web Services Inc. announced an extended partnership with Lacework Inc., a cloud security services provider, to integrate Amazon GuardDuty with Laceworks portfolio. The partnership would allow Amazon Web Services to provide its customers with anomaly detection solutions that would drive better security outcomes.

May-2023: Microsoft Corporation signed a partnership with NVIDIA, an American technology company, to provide solutions for Ai-powered business transformation. The partnership features a combination of Microsofts Azure Machine Learning with NVIDIA AI Enterprise software that would allow the joint customers of the two companies to gain access to a protected business platform.

May-2023: NVIDIA Corporation partnered with ServiceNow, a software company based in the US, to provide workflow automation capabilities. The partnership would allow NVIDIA to serve its IT customers in a better way by providing them with generative AI solutions.

May-2023: SAP SE signed a partnership with Google Cloud, a cloud platform offered by Google, to integrate Google Clouds Data and Analytics Technology with SAPs portfolio. The partnership enables SAP to serve its customers in a better way by providing them with a portfolio that would simplify the data landscapes, perform advanced analysis and provide quick access to important business-related data.

Feb-2023: IBM Corporation announced a partnership with NASA, an American civil space agency, to develop AI-powered solutions for contextual analysis. The solutions developed by IBM in the course of this partnership would be useful to several other organizations including NASA, thereby, allowing IBM to strengthen its market position.

Feb-2023: Amazon Web Services, Inc. partnered with Baker Hughes, an energy technology solutions provider, to develop solutions for automated field production. The partnership would allow the joint customers of the two companies to increase their productivity by providing them with solutions for proactive management and automated field production.

Dec-2022: SAS Institute, Inc. entered into a partnership with Basserah, a data solutions provider based in Saudi Arabia, to provide solutions for data analytics to Saudi enterprises. The partnership allows SAS to expand its data analytics offerings and would allow the company to enhance its market share in the Saudi region.

Nov-2022: Squirro AG teamed up with Semantic Web Company, a knowledge graph provider, to launch Composite AI solutions. The collaboration would provide the joint customers of the two companies with better decision-making solutions by combining Squirros Insight Engine with Semantic Web Companys knowledge graph technology.

Sep-2022: Salesforce, Inc. entered into a partnership with AWS, an IT services provider based in the United States, to integrate the Salesforce Platform with Amazon SageMaker. The partnership allows the two companies to provide their customers with solutions to build business-specific AI models.

May-2021: SAP extended its partnership with Team Liquid, a leading worldwide professional esports organization. By using the power of SAP HANA, predictive & machine learning functionalities, and the SAP Business Technology Platform, Team Liquid would more rapidly and efficiently evaluate opponents approaches.

Jan-2021: SAP SE extended its partnership with Microsoft, an American multinational technology company. This partnership aimed to combine Microsoft Teams with SAPs intelligent portfolio of solutions and boost the adoption of SAP S/4HANA on Microsoft Azure. In addition, the companies also focus on simplifying and streamlining users journeys to the cloud.

Product Launches and Product Expansions:

May-2023: IBM Corporation announced the launch of the Watsonx Platform, an AI-powered solution that provided end-to-end workflow solutions. The Watsonx Platform features three product sets namely, IBM watsonx.ai, an AI-powered solution that facilitates generative AI and machine learning deployment, IBM Watsonx.data, a data store used for AI workloads and governed data applications and IBM Watsonx.governance, an AI-workflow solution.

Apr-2023: Amazon Web Services announced the launch of Bedrock, a service used for developing generative AI applications. The Bedrock features accessibility to Amazons Titan language models and customizability for data-specific needs. Furthermore, Bedrock can also be used with third-party language models.

Mar-2023: Salesforce, Inc. announced the launch of Einstein GPT, a CRM technology solution that utilizes AI to provide AI-created content at a hyper-scale. The Einstein GPT is compatible with Salesforce Data Cloud and features OpenAIs chatbot technology.

Mar-2023: NVIDIA Corporation introduced the NVIDIA NeMo framework and NVIDIA Picasso service. The NVIDIA NeMo framework is used for deploying large language models (LLMs) and facilitating enterprise hyper-personalization. The NeMo framework features NVIDIA DGX Cloud. The NVIDIA Picasso service is purely cloud-based and is used to create and deploy generative AI-based visuals. The Picasso service features Edify foundation for generating high-definition videos and images.

Mar-2023: SAP SE unveiled SAP Datasphere, a cloud-based data warehouse used for data integration and data cataloguing applications. The Datasphere features the SAP Business Technology Platform (BTP) used for data protection and governance purposes. Furthermore, Datasphere can be used with third-party technologies to overcome errors in data management.

Feb-2023: Google LLC unveiled Bard, a chatbot that leverages the use of AI for better results. Bard features the use of Googles Lambda language model that would facilitate humanlike interaction between the user and the chatbot.

Scope of the Study

Market Segments covered in the Report:

By Technique

Data Processing

Data Mining & Machine Learning

Conditioned Monitoring

Pattern Recognition

Proactive Mechanism & Others

By Vertical

BFSI

Telecommunications

Retail & eCommerce

Healthcare & Lifesciences

Media & Entertainment

Energy & Power

Transportation & Logistics

Government & Defense

Manufacturing

Others

By Application

Product Design & Development

Quality Control

Predictive Maintenance

Security & Surveillance

Customer Service & Others

By Offering

Hardware

o Processors

o Memory Units

o Networks

o Others

Software

o AI Development Platforms & Tools

o ML Framework

o AI Middleware & Others

Services

By Geography

North America

o US

o Canada

o Mexico

o Rest of North America

Europe

o Germany

o UK

o France

o Russia

o Spain

o Italy

o Rest of Europe

Here is the original post:

The Global Composite AI Market size is expected to reach $8.5 billion by 2030, rising at a market growth of 36.9% CAGR during the forecast period -...